Financial fitness: Mid-year check-in for military families

As we reach the halfway point of the year, it's a good time to pause and review our financial situation. Whether you're saving for a big change, preparing for the upcoming school year, or aiming to manage your spending more efficiently, a mid-year financial check-up can set you up for success in the months ahead. Let's explore some practical steps to ensure your finances are as strong as your family.

1. Review your budget

Life can change rapidly, particularly for military families. Perhaps you've recently relocated, experienced changes in benefits, or welcomed a new family member. Make adjustments to your budget to account for these changes and ensure that your spending categories still align with your current situation. Utilize apps like Mint or YNAB (You Need A Budget) to track your spending habits and make real-time adjustments.

2. Track your savings goals

The mid-year mark is an ideal opportunity to assess your progress toward your savings goals. Are you on track for that vacation, emergency fund, or retirement savings target? If you need more time, consider setting up automatic transfers to your savings account right after you receive your paycheck. This approach ensures that you prioritize saving without having to think about it too much.

3. Manage debt wisely

Take a moment to evaluate your debts—whether it's a car loan, credit card debt, or student loans. Examine the interest rates and consider using any extra funds to pay off high-interest debts first. Sometimes, consolidating your debts or refinancing can lead to better terms and lower interest rates. Always weigh the benefits against any potential fees.

4. Plan for upcoming expenses

Whether a Permanent Change of Station (PCS) is on the horizon, or back-to-school preparations are in full swing, it's crucial to forecast these expenses now and start setting aside funds. By doing so, you can avoid being caught off guard. Remember, saving a small amount each month is more manageable than scrambling at the last minute.

5. Understand your benefits

Take the time to maximize your military benefits. Whether it's healthcare, education benefits, or service discounts, staying well-informed can lead to significant cost savings. Websites like Military OneSource can be valuable resources in this regard.

6. Check your insurance coverage

Life changes, and so do your insurance needs. Whether it's renter's, home, life, or auto insurance, now is an ideal time to review your policies to ensure they align with your current circumstances. offers a wide range of insurance options tailored specifically for military families. They understand the unique challenges you face and can help ensure you have optimal coverage.

Taking the time now to assess and adjust your financial plan can make all the difference in how smoothly the rest of the year goes. Remember, financial fitness is not just about cutting costs—it's about making smarter choices that align with your family's goals. And remember, you're not alone in this journey. Organizations like AFI are here to support you with resources and advice that are tailored to the military lifestyle.

Are you ready to make sure you're covered for whatever the year's second half brings? Visit to explore insurance options and financial resources that can help keep your family secure and give you peace of mind. Let's make the rest of the year financially strong!